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Alberta & Prairies  + Finance  | 
Photo of downtown Edmonton.

Edmonton in Midst of Development Boom

Edmonton is experiencing a surge in residential and commercial development, driven by new zoning regulations and the expansion of the city’s LRT system.

The findings were contained in City of Edmonton 2024 year-in-review report, according to CBC and other media outlets

The city issued 50% more residential development and building permits in 2024 than in the previous year, with the total value of construction permits reaching $4.2 billion—a 31% year-over-year increase.

“I’m not shocked,” Coun. Andrew Knack, told CBC. “Thinking about the growth that we’ve been seeing, it’s just continuing to explode in our city.”

Edmonton’s new zoning bylaw, which took effect in January 2024, permits more diverse and higher-density housing across the city. In residential zones, eight or more units can now be built on a single lot. Last year, the city approved nearly 16,000 new dwelling units, with about 6,000 classified as row houses, backyard housing, or secondary suites.

David Cooper, a transportation planner and consultant with Leading Mobility, noted that the city’s LRT expansion is a major catalyst for development.

“Rapid-transit projects do sometimes spur changes in the urban form to build more housing,” he told CBC.

The Valley Line West LRT is under construction, and the Capital Line extension has been approved. Transit-oriented developments (TODs) are emerging in areas such as Bonnie Doon, Strathearn, and Mill Woods Town Centre.

Developers see long-term benefits. Niraj Nath, president of NDura Developments, credited the new zoning bylaw and transit growth for his company’s 300% annual increase in business.

“I think there’s a lot of long-term generational benefits to the LRT,” he told CBC.

Pictured: Downtown Edmonton.

Photo: Shutterstock

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Inside The Story

Andrew KnackDavid Cooper

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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